Young Working Adults Worry About Loan Repayment | Ramblings of an e-trader

Sunday, 15 May 2011

Young Working Adults Worry About Loan Repayment

Young adults in Malaysia, especially those who are still new in the employment market, are worried about loan repayment, even though they think that the "My First Home" scheme is a great way to encourage property ownership in the young. Obviously, one of the main factors that caused this worry is the rising cost of living and the stagnant paycheck.

You know what? Even though I have been working for a while now, I still have this fear of loan repayments. I fear that I may not be able to earn and hence, cannot service my loan. Time flies quickly and before we know it, it's the end of the month and a stack of bills has piled up, including our loan repayment. And that's not cheap, you know?

So even if the Government has good intentions by providing this “My First Home” scheme, I really do not see how someone who earns less than RM3000 monthly could undertake to pay at least RM1000 in loan repayments monthly.


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